Transamerica Launches Financial Recovery Action Plan for Retirement Plan Participants Hit by Economic Crisis.
LOS ANGELES -- In challenging economic times, it's increasingly important for investors to assess their financial situation and take back control of their retirement savings strategy. Recognizing this growing need, Transamerica Retirement Services has launched a program to help retirement plan participants weather the financial storm, create a successful investment plan and regain confidence in their financial future. This new program, named "The RECOVER Plan by Transamerica," is designed to help participants understand the causes of the economic situation, the cycles of the financial markets, and how to evaluate and improve their prospects for retirement.
"RECOVER" is an acronym representing the process created by Transamerica to help participants regain control of their retirement savings during these turbulent times. RECOVER means:
* Recognize the events that led us to this economic situation and understand that financial markets are cyclical.
* Evaluate your current situation.
* Calculate your retirement income goals and determine how much you need to save for retirement.
* Organize your budget to determine how much you can save.
* Verify that your investment strategy corresponds to your risk tolerance.
* Execute any necessary changes.
* Regain control of your Retirement Dreams.
"The recent market declines have left many retirement plan participants questioning their own retirement savings strategy and has generated an abundance of uncertainty over future financial security," said Kent Callahan, president and CEO of Transamerica Retirement Services. "As with all of the participant-focused products and services we develop, The RECOVER Plan by Transamerica will help remove the uncertainty and guesswork from the equation and give participants the peace of mind they look for with their savings."
"Transamerica's RECOVER program is an insightful, educational tool to help participants realize that their retirement goals are achievable, even in these difficult times," said Amy Kline, Human Resources Manager of Techni-Tool, Inc., a Philadelphia-based client of Transamerica. "We chose Transamerica as our plan provider largely due to their outstanding participant education programs. RECOVER is unique because it educates participants and helps them develop an actionable solution to get back on track."
The RECOVER Plan by Transamerica is action oriented and guides participants through the process with the help of a workbook and video presentation. The workbook walks participants through a process to understand and assess their current financial situation, identify how much they are actually able to save towards retirement, and the types of investment choices to consider. It also includes simple instructions on how to make account contributions and investment changes quickly and easily. The accompanying video presentation works in tandem with the workbook to help guide participants through the program.
The RECOVER Plan by Transamerica is available now for Transamerica participants. The program is available on the Web site as a Flash file and downloadable PDF. A DVD and workbook are available as well.
Techni-Tool is one of the country's premier solutions providers for the electronics manufacturing, assembly and repair industries as well as, the government, military, telecommunications, cleanrooms, medical device and semiconductor manufacturing industries. Currently celebrating its 50th Anniversary, Techni-Tool serves customers in 100 countries and employs more than 200 people nationwide. For more information, visit www.techni-tool.com.
About Transamerica Retirement Services
Transamerica Retirement Services ("Transamerica"), a marketing unit of Transamerica Financial Life Insurance Company, 4 Manhattanville Road, Purchase, New York 10577, and other of its affiliates, designs customized retirement plan solutions to meet the unique needs of small- to mid-sized businesses. Transamerica Retirement Services ranked among the top plan providers1 in a recent PLANSPONSOR([R])Magazine Defined Contribution Survey and has more than 15,0002 retirement plans totaling more than $13.22 billion in assets. For more information about Transamerica, please refer to www.TA-Retirement.com.
1 The November 2008 PLANSPONSOR([R])Magazine Defined Contribution Survey results place Transamerica Retirement Services among the top providers out of 52 for retirement plans with up to $50 million in assets based on total number of cups won. See the November 2008 issue of PLANSPONSOR[R] Magazine for complete results.
2 As of December 31, 2008.
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|Date:||Feb 24, 2009|
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